(GeoPark, 3.Jun.2019) — GeoPark Limited drilled and completed the Praia dos Castelhanos 1 exploration well in the REC-T-128 block (GeoPark operated, 70% WI) to a total depth of 8,431 feet.
A production test in the Agua Grande formation resulted in a production rate of approximately 300 barrels per day of oil of 34 degrees API, with no water. Long-term testing is expected to begin in the coming weeks. Additional production history is required to determine stabilized flow rates and the extent of the reservoir.
Exploration drilling in Brazil is expected to continue during 3Q:19 with the drilling of an exploration well in the POT-T-747 block (GeoPark operated, 70% WI), in the mature, onshore Potiguar basin.
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